TD Securities Cuts BCE (TSE:BCE) Price Target to C$39.00

BCE (TSE:BCE) (NYSE:BCE) had its target price cut by TD Securities from C$43.00 to C$39.00 in a report issued on Monday,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on BCE. Desjardins boosted their price target on BCE from C$48.00 to C$51.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Barclays lowered their price target on BCE from C$48.00 to C$46.00 in a report on Wednesday, October 9th. National Bankshares lowered their price target on BCE from C$48.00 to C$42.00 in a report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on BCE from C$52.00 to C$47.00 in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their price objective on BCE from C$47.00 to C$41.00 in a research note on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$45.36.

BCE Stock Performance

Shares of BCE opened at C$38.09 on Monday. The business’s 50 day moving average is C$45.65 and its two-hundred day moving average is C$45.80. BCE has a 52-week low of C$37.81 and a 52-week high of C$56.18. The firm has a market cap of C$34.75 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 4.67 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 10.48%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is currently 185.58%.

About BCE

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.